The emergence of the live streaming trend and virtual reality technology presents major players with an excellent opportunity to develop innovative offerings in the OTT content market. The adoption of high-speed broadband, as well as the rising demand for smartphones and smart televisions, are all contributing to the growth of the OTT content market. Market participants are constantly upgrading their product portfolios to meet rising demand in the competitive global OTT content market. The OTT content streaming market is expected to be worth around US$ 315.6 billion by 2030, with a CAGR of 17.4% from 2022 to 2030.
Market fragmentation has resulted from the presence of multiple regional and global players over the years, and vendors are focusing on differentiating their content and platform offerings to maintain a competitive edge. Government regulations have a moderate impact, and demand for regional content is relatively high.
Mobile and other connected device penetration will drive market revenue in the coming years.
Smartphones and tablets have emerged as the primary communication and content consumption devices. Furthermore, with the rapid adoption of 4G services in developing countries and the First World transitioning to advanced telecommunications technologies, mobile Internet adoption is expected to accelerate in the coming years. Optimal pricing of 4 G-enabled phones has resulted in increased smartphone penetration in various regional consumer markets, resulting in increased demand for OTT content.
Key Companies Profiled
- Akamai Technologies, Inc.
- Amazon.com, Inc.
- Apple, Inc.
- Brightcove, Inc.
- Google, Inc.
- Hulu LLC
- Limelight Networks, Inc.
- Netflix, Inc.
- Roku, Inc.
